December 12, 2018 Today’s Paper
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Bahrain set to regulate real estate evaluator business

Bahrain - December 3, 2018

Bahrain’s Real Estate Regulatory Authority (Rera) recently hosted a workshop to discuss the key measures which will be introduced over the coming months to regulate the real estate elevator profession in the kingdom, said a report.

The workshop held under the theme ‘Foundations for a Sustainable Real Estate Sector’ provided elevators with an opportunity to discuss and agree key issues for the sector.

Elevators have a key role to play in building a more sustainable real estate market, reported BNA, citing a top official of the property watchdog.

Shaikh Mohammed bin Khalifa Al Khalifa, the CEO of the Real Estate Regulatory Authority (RERA) said that, they will continue to drive forward with the objective of creating an efficient and transparent real estate sector which is attractive to local and international investors.

He pointed out that Rera would ensure that Bahrain adopts international best practice by implementing International Valuation Standards and collaborating with world-renowned organisations such as the Royal Institute of Chartered Surveyors (RICS) in designing and implementing training and development programs to further professionalize the sector.   

He also stated that they will achieve this by engaging with all stakeholders, listening to their issues and ultimately implementing regulations that will be to the benefit of all in the property ecosystem.  

The co-operation and enthusiasm for reform evidenced at the meeting with leaders from the elevator profession augurs well for the future of the real estate sector in Bahrain, he added.

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